In an Overall Sunny Jobs Report, a Few Clouds

The June U.S. jobs report was broadly positive. Payrolls rose strongly, the unemployment rate fell and the number of Americans who have been out of work for more than six months continued to decline.

But there were a few upbeat ingredients still missing from the brew: accelerating wage growth, rising labor-force participation and a decline in the number of Americans working part-time jobs because they could not find full-time work.

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